THE National Higher Education Fund Corporation (PTPTN) is emphasising the benefits of its Simpan SSPN savings programme, urging parents to start early in preparing financially for their children’s higher education.
Launched in 2004, Simpan SSPN remains a standout education savings instrument in Malaysia, offering annual income tax relief of up to RM8,000 for deposits into Simpan SSPN Prime and Plus accounts.
“This incentive is meant to encourage parents to start early and maintain a consistent habit in saving for their children's education,” New Straits Times reported PTPTN chairman Datuk Seri Norliza Abdul Rahim saying.
For Simpan SSPN Plus accounts, depositors may also receive additional tax relief of up to RM7,000 for contributions towards takaful under the life insurance and Employees Provident Fund categories.
Norliza noted that the relief can be claimed by either one parent or jointly, covering all accounts opened in their children’s names.
Significantly, from this year, withdrawals made to fund children’s tertiary education will no longer reduce the total amount of tax relief that depositors can claim, further increasing the scheme’s practicality and appeal.
“The tax incentive offered by Simpan SSPN is unique and not available through any other education savings scheme in the market,” Norliza added.
Beyond tax advantages, Simpan SSPN offers free takaful protection for depositors with a minimum balance of RM1,000, competitive dividends through a Shariah-compliant financing system, and government-matching grants of up to RM10,000 for qualifying families.
PTPTN has also enhanced digital access through the myPTPTN application, enabling parents to open and manage accounts, track contributions, and monitor study loans online.
“PTPTN remains committed in implementing various incentives to encourage parents to plan for their children's future.
“Simpan SSPN provides parents with the opportunity to start saving from a young age,” said Norliza.
She encouraged parents without accounts to open them immediately and advised existing depositors to increase contributions before December 31 to maximise their 2025 tax relief.
“Malaysians should seize this opportunity to enjoy income tax relief of up to RM8,000 for the 2025 assessment year, an incentive not offered by any other savings product,” she stressed.
Businessman Ng Huey Cherng shared his perspective, explaining that while the tax relief initially motivated him, he soon realised the scheme’s primary purpose is to secure his child’s education.
“At first, the decision was driven by the tax relief benefit. After understanding Simpan SSPN better, I realised its main purpose is really to prepare for my child's education,” he said.
Ng advised parents not to feel pressured to save the maximum immediately. “RM8,000 is a lot, but it should not be used as a benchmark.
“Start with whatever amount you are comfortable with. Once you start, you can slowly increase the amount as your income grows,” he added, noting the scheme’s user-friendly and straightforward process.
PTPTN also conducts its annual WOW! Simpan SSPN 2025 Draw to reward depositors and incentivise savings.
Participation requires opening an account or making additional deposits during the campaign. For Simpan SSPN Prime accounts, every RM100 in net savings earns one draw entry, while Simpan SSPN Plus accounts receive two entries for every RM50 in net savings, including takaful contributions.
Participants using the myPTPTN app or consistent payment channels, such as salary deductions or direct debits, receive bonus entries. Prime account depositors gain five entries for every RM100 saved, while Plus account depositors receive ten entries for every RM50 in net savings.
This year’s draw offers more than RM1.5 million in prizes across two categories, benefiting 550 winners, underscoring PTPTN’s commitment to fostering a culture of early financial planning for higher education.
Parents seeking further information can visit PTPTN’s website or download the myPTPTN app. - December 23, 2025
